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Tuesday, April 17, 2018

17 April 2018

I think this works.    Lets see how this works out.
Starting over
If this is Wave (ii) it should come as an a b c, in the form of a 3-3-5 fractal.   Wave c should therefore have five waves.
I did not expect such a strong bounce for Wave (ii) and I tried to force my expectations on the count. It was looking good until this morning, but it's time to admit this correction has strength!
I'd say Wave a and Wave b are pretty solid due to the overlap and obvious three wave moves.  Wave c on the other hand is still unfolding and I'm not sure about how to count the five waves just yet.
I've labeled Waves 1 and 2, but I'm not sure until I see more.
The best indication may be to watch for a break of the white fork.

The green line at the top is a trendline from the all time high.  It would be a nice confirmation if Wave c ended right there.  As you can see the resistance at 2694 has given way.

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